Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Hi i need help with this data entry please see the attachment Exercise 25-3 Stefani Company has gathered the following information about its product. Direct
Hi i need help with this data entry please see the attachment
Exercise 25-3 Stefani Company has gathered the following information about its product. Direct materials: Each unit of product contains 4.50 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 0.70 pounds. Materials cost $3 per pound, but Stefani always takes the 5.00% cash discount all of its suppliers offer. Freight costs average $0.30 per pound. Direct labor. Each unit requires 1.70 hours of labor. Setup, cleanup, and downtime average 0.20 hours per unit. The average hourly pay rate of Stefani's employees is $13.10. Payroll taxes and fringe benefits are an additional $3.40 per hour. Manufacturing overhead. Overhead is applied at a rate of $4.50 per direct labor hour. Compute Stefani's total standard cost per unit. (Round answer to 2 decimal places, e.g. 1.25.) $ Total standard cost per unit Exercise 25-4 Monte Services, Inc. is trying to establish the standard labor cost of a typical oil change. The following data have been collected from time and motion studies conducted over the past month. Actual time spent on the oil change Hourly wage rate 4.0 hour $14 Payroll taxes Setup and downtime 19% of wage rate 6% of actual labor time Cleanup and rest periods Fringe benefits 29% of actual labor time 26% of wage rate Determine the standard direct labor hours per oil change. (Round answer to 2 decimal places, e.g. 1.25.) Standard direct labor hours per oil change hours LINK TO TEXT LINK TO TEXT Determine the standard direct labor hourly rate. (Round answer to 2 decimal places, e.g. 1.25.) $ Standard direct labor hourly rate LINK TO TEXT LINK TO TEXT Determine the standard direct labor cost per oil change. (Round answer to 2 decimal places, e.g. 1.25.) Standard direct labor cost per oil change $ LINK TO TEXT LINK TO TEXT If an oil change took 4.60 hours at the standard hourly rate, what was the direct labor quantity variance? (Round answer to 2 decimal places, e.g. 1.25.) $ Direct labor quantity variance Exercise 25-6 Lewis Company's standard labor cost of producing one unit of Product DD is 3.9 hours at the rate of $10.0 per hour. During August, 41,200 hours of labor are incurred at a cost of $10.20 per hour to produce 10,500 units of Product DD. (a) Compute the total labor variance. $ Total labor variance (b) Compute the labor price and quantity variances. $ Labor price variance $ Labor quantity variance (c) Compute the labor price and quantity variances, assuming the standard is 4.2 hours of direct labor at $10.40 per hour. $ Labor price variance $ Labor quantity varianceStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started